
27 April 2024 | 5 replies
@Nick KnoblachOf course, you should always confirm with your own CPA who is familiar with your situation, but here's a few generalities:- CA taxes residents on worldwide income, so the CA resident will likely be taxed on the entirety of income that he/she receives on his/her CA resident tax return, including his/her share of rental income- CA will likely want to collect tax on all income earned in CA due to CA-sitused real property, so any non-residents in CA should likely be prepared to file a non-resident income tax return in CA to report his/her share of income earned from the CA real property-I'm not familiar with MN rules, but most states generally allow for a credit for taxes paid to another state.

27 April 2024 | 20 replies
Everything she has written appears to be opinion and not factAttorney will deal with this and tell her “I have forwarded everything to our attorney and please forward all future communication to them”That typically gets them to pull back quicklyYes it costs money - that’s reality of being a landlord

28 April 2024 | 17 replies
This will allow you to refinance within the typical cash-out seasoning period.

26 April 2024 | 4 replies
Given my situation (see below), what real estate strategies are the best fit, what are the typical ranges of returns on them, and what are their other pros / cons?

24 April 2024 | 0 replies
I just received notice that Safeco will not renew Landlord Protection Policy, I expect to receive the same on the other policies I have with them.Anyone in California have a good non owner occ insurance company.The current policies end in July so I have a little time.Thanks in advance!

29 April 2024 | 32 replies
I answered a questionaire that they had there and today I received a phone call from a consultant from Utah for Epic Real Estate.

26 April 2024 | 3 replies
It essentially allows them to pass the financial responsibility to someone else without going through a foreclosure or short sale process.How Banks Get Involved: Typically, in a "subject to" financing deal, the existing loan stays in the seller's name, but the deed transfers to the buyer, making the buyer responsible for the mortgage payments.

27 April 2024 | 7 replies
Unless, like he mentioned, the house is in poor condition and won't qualify for a bank loan that a typical buyer would need.

26 April 2024 | 10 replies
(This is filing for a s-corp) My gross was reported as 130k on my taxes(Not actually), however, when I've sold the properties i've received 2 checks of 200k and 300k that were deposited into my bank.

26 April 2024 | 6 replies
You'll want to be able to obtain balances, confirm payments were received, obtain payoff statements, etc.Ask your friend to share the username and password for the servicer's websiteI recommend using a loan servicer to collect your payments and disperse payments each month to the underlying mortgage servicer.